Fund Recognized by Lipper for Outstanding 3-Year Performance
Easterly Funds is pleased to announce that the Easterly Income Opportunities Fund (JASSX) has been named a 2023 U.S. Lipper Fund Award in the U.S. Mortgage Funds category out of 128 shareholders for a three-year period as of 12/31/2022. The award recognizes the fund’s consistently strong risk-adjusted performance relative to its peers.
“We’re honored to be recognized a second time by Lipper a second time with this competitive award – a testament, which recognizes the consistent, long-term performance for which the Easterly Income Opportunities Fund is known,” said Easterly Funds CEO Darrell Crate. “The This achievement speaks to the unwavering commitment of its talented investment team, who strive to deliver competitive, risk-adjusted results for our shareholders.”
“The Lipper Fund Award showcases our team’s steadfast focus to provide positive returns for investors through all market scenarios,” said Mike Collins, Head of Distribution at Easterly Funds. “We find opportunities in quality structured credit securities that are generally not subject to corporate credit risk, which has resulted in our ability to lead through choppy markets.”
In addition to its Lipper Award, the Easterly Income Opportunities Fund has been rated 5-Stars and recognized by Morningstar out of 290 funds in the Multisector Bond category for risk-adjusted returns over the most recent three-year period and overall. The fund also has outperformed its benchmark Bloomberg U.S. Aggregate Bond Index for the one- and three-year periods ended December 31, 2022.
The Fund seeks attractive long-term risk-adjusted returns relative to traditional financial market indices. It achieves its strategy by taking advantage of opportunities in the inefficient and non-indexed structured credit market. The Easterly Income Opportunities Fund R6 (JASSX) is sub-advised by Orange Investment Advisors.
About the Lipper Fund Awards
Since 2006, the Lipper Fund Awards have annually recognized funds and fund management firms for their consistently strong risk-adjusted three-, five- and 10-year performance relative to their peers based upon Lipper’s quantitative, proprietary methodology. The awards are sponsored by Refinitiv, an LSEG (London Stock Exchange Group) business, and one of the world’s largest providers of financial markets data and infrastructure. For more information, visit http://www.lipperfundawards.com/
Lipper Fund Awards from Refinitiv, All rights reserved. Used under license. The Easterly Income Opportunities Fund R6 Share class (JASSX) received a Refinitiv Lipper Award for the best fund among 290 funds in the Morningstar Multisector Bond category based on a risk-adjusted performance for the 3-year period ending December 31, 2022. The Refinitiv Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The Refinitiv Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60, and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the Refinitiv Lipper Fund Award.
About Easterly Funds
Easterly Funds is a mutual fund platform offering investors access to boutique managers and unique strategies, with differentiated investment approaches. Easterly Funds’ ambition is to bring innovative, alpha-generating mutual funds to investors, enabling them to better navigate need for income, capital appreciation and risk management to help potentially reduce volatility. As of February 28, 2023, Easterly Funds had approximately $1.1 billion of assets under management. For more information, please visit Easterly at http://funds.easterlyam.com/.
About Orange Investment Advisors
Founded in 2017, Orange Investment Advisors offers investors securitized product solutions with low volatility and a high-level of risk-adjusted income and capital appreciation. The firm’s products include a Structured Credit Value Strategy and Credit Dislocation Strategy.
Media Contact:
Mike Collins
Managing Director, Head of Distribution
The Easterly Funds are distributed by Ultimus Fund Distributors, LLC. Easterly Funds, LLC and Orange Investment Advisors, LLC are not affiliated with Ultimus Fund Distributors, LLC, member FINRA/SIPC. Certain associates of Easterly Funds, LLC are registered with FDX Capital LLC, member FINRA/SIPC.
Easterly Income Opportunities Fund Morningstar Ratings
| Overall | 3-Year | 5-Year | |
|---|---|---|---|
| Morningstar Rating | 5 Stars | 5 Stars | N/A |
| #Funds in Category | 290 | 290 | N/A |
Morningstar Rating as of December 31, 2022 | Category: Multisector Bond
Criteria: Risk-Adjusted Returns
© 2023 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange- traded funds, closed-end funds and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five- and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Morningstar Rating is for the R6 share class only; other classes may have different performance characteristics.
Past performance is not a guarantee nor a reliable indicator of future results. As with any investment, there are risks. There is no assurance that any portfolio will achieve its investment objective.
Mutual funds involve risk, including possible loss of principal. Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund. This and other information is contained in the Fund’s prospectus, which can be found on this website or obtained by calling 888.814.8180 and should be read carefully before investing. Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund. This and other information about the Fund is contained in the prospectus, which can be obtained by calling 888.814.8180 and should be read carefully before investing. Past performance does not guarantee future results and current performance may be lower or higher than the performance data quoted. The investment return and principal value of an investment will fluctuate, so that shares when redeemed may be worth more or less than their original cost. Investors cannot invest directly into an index. For performance information current to the most recent month-end, please call 888.814.8180.
IMPORTANT FUND RISK: The derivatives that the Portfolio primarily expects to use include options, futures and swaps. Derivatives may be volatile and some derivatives have the potential for loss that is greater than the Portfolio’s initial investment. The liquidity of the futures market depends on participants entering into offsetting transactions rather than making or taking delivery. High yield, below investment grade and unrated high risk debt securities (which also may be known as “junk bonds”) may present additional risks because these securities may be less liquid, and therefore more difficult to value accurately and sell at an advantageous price or time, present more credit risk than investment grade bonds and may be subject to greater risk of default. Interest rate risk refers to the risk that bond prices generally fall as interest rates rise; conversely, bond prices generally rise as interest rates fall. There is no guarantee that the investment techniques and risk analysis used by the portfolio managers will produce the desired results. MBS and ABS have different risk characteristics than traditional debt securities. Credit spread risk is the risk that credit spreads (i.e., the difference in yield between securities that is due to differences in their credit quality) may increase when the market believes that bonds generally have a greater risk of default.
Incorporating alternative investments into a portfolio presents the opportunity for significant losses including in some cases, losses which exceed the principal amount invested. Also, some alternative investments have experienced periods of extreme volatility and in general, are not suitable for all investors. Asset allocation and diversification strategies do not ensure profit or protect against loss in declining markets.
16643513-UFD 03/23/2023